Betr Revises PointsBet Bid, Lifts Offer to AU$370m

The updated offer increases the purchase price from AU$0.43 to AU$0.465 per share, representing a 37% premium to PointsBet’s closing share price of AU$0.34 on 23 May 2025. The proposal follows an earlier indicative bid made on 24 May 2025, with Betr now seeking to strengthen its position through improved terms after ongoing discussions and further due diligence.

If accepted, the deal would see Betr take over all of PointsBet’s Australian operations, including sports betting licences, proprietary technology platforms, intellectual property, operating personnel, and other business-related assets. Such a transaction would consolidate Betr’s standing in the highly competitive Australian wagering market, where scale and technology-driven efficiency have become critical to long-term success.

As part of the revised proposal, Betr has also agreed to extend the exclusivity period to 6 September 2025. This extension gives both parties additional time to advance negotiations, complete regulatory assessments, and address any outstanding due diligence items. During this exclusivity period, PointsBet has agreed not to solicit or enter discussions with other potential bidders, unless compelled to do so by fiduciary obligations.

The PointsBet Board has indicated that the revised offer appears more attractive than the company’s standalone outlook, acknowledging that the business continues to face challenges in an increasingly saturated and expensive market environment. However, the proposed transaction remains subject to shareholder approval, due diligence, and regulatory clearances before it can proceed to completion.

Betr may also consider providing short-term funding support to PointsBet Australia to ensure operational continuity should deal finalisation be delayed beyond the expected timeline.

A formal binding agreement is anticipated once the final stages of negotiation are concluded. Shareholders will be updated on progress in due course, with the Board reaffirming its commitment to securing an outcome that delivers value and certainty in a rapidly evolving wagering landscape.